{
 "meta": {
  "dossier": "markets-companies",
  "source": "Reserve Bank of India, studies of company finances (DBIE, via the local Data Bank)",
  "vintage": "2026-10-10",
  "mock": false,
  "geo": "IND",
  "releaseDate": null,
  "revisionPolicy": "Each study is final for its own sample of companies; a later study re-measures the earlier year on a different sample, kept beside it, never chained.",
  "frequency": "annual",
  "base": "Old reporting format (studies 2011-12 to 2018-19)",
  "product": "DBIE report 1187",
  "companyType": "Private limited companies",
  "statement": "Financial ratios",
  "cut": null,
  "studies": [
   "2011-12",
   "2012-13",
   "2013-14",
   "2014-15",
   "2015-16",
   "2016-17",
   "2017-18",
   "2018-19"
  ],
  "coverage": "Private limited companies: financial ratios, from the RBI's annual studies (2011-12 to 2018-19 studies)",
  "unit": "pct",
  "studyOffset": 1,
  "note": "The figure for a year as re-measured in the study 1 year later, on that later study's sample. Kept apart from the year's own study (the bundle without -prior), never mixed.",
  "latestPeriod": "2017-04"
 },
 "dates": [
  "2010-04-01",
  "2011-04-01",
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01",
  "2017-04-01"
 ],
 "series": {
  "debt_to_equity_equity_adjusted_for_revaluation_reserve": {
   "label": "Debt to equity (equity adjusted for revaluation reserve)",
   "unit": "pct",
   "data": [
    33.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    null,
    2.7,
    2.5,
    2.8,
    2.6,
    2.8,
    2.4,
    2.6
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    6.3,
    3.2,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    null,
    28.8,
    23.2,
    23.2,
    25.3,
    26.3,
    28.4,
    28.5
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    10,
    11.2,
    null,
    5.6,
    5.6,
    2.9,
    2.3,
    2.8
   ],
   "gaps": [
    "2012-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to total uses of funds",
   "unit": "pct",
   "data": [
    49.9,
    51.7,
    57.2,
    51.3,
    39.5,
    57.3,
    38.5,
    41.7
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    56.1,
    53,
    49.8,
    50.5,
    54.7,
    56.5,
    57.2,
    54.3
   ]
  },
  "sales_to_total_net_assets": {
   "label": "Sales to total net assets",
   "unit": "pct",
   "data": [
    100.6,
    97.9,
    83.3,
    79.5,
    93.4,
    95.7,
    105.6,
    104.1
   ]
  },
  "total_outside_liabilities_to_net_worth": {
   "label": "Total outside liabilities to net worth",
   "unit": "pct",
   "data": [
    136.5,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    60.6,
    61.4,
    59.7,
    53.7,
    54.6,
    55.6,
    61.2,
    67.9
   ]
  },
  "sundry_creditors_to_current_assets": {
   "label": "Sundry creditors to current assets",
   "unit": "pct",
   "data": [
    27.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    17,
    18.8,
    18.1,
    21.8,
    20.6,
    20.5,
    17.9,
    15.9
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    50.3,
    50.5,
    54.5,
    36.8,
    47.5,
    44.8,
    45.2,
    46.3
   ]
  },
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to total uses of funds",
   "unit": "pct",
   "data": [
    31.3,
    38.6,
    42.2,
    32.7,
    14.6,
    44.7,
    23.4,
    33.2
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    null,
    2.9,
    4.2,
    3.2,
    3.5,
    1.7,
    1.9,
    2.2
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    33.1,
    39.1,
    40.4,
    47.2,
    52.2,
    59.4,
    56,
    53.9
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    null,
    63.9,
    65.2,
    77.7,
    86,
    97.1,
    91.8,
    84.5
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    42.3,
    43.1,
    44.4,
    42.2,
    37.4,
    34.9,
    35.8,
    36.7
   ]
  },
  "sales_to_gross_fixed_assets": {
   "label": "Sales to gross fixed assets",
   "unit": "pct",
   "data": [
    213.7,
    204.6,
    265,
    242,
    279.7,
    282.1,
    292.6,
    257.3
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to total sources of funds",
   "unit": "pct",
   "data": [
    64.7,
    72.1,
    71.7,
    73,
    97.2,
    58.9,
    65.1,
    55.8
   ]
  },
  "sundry_debtors_to_sales": {
   "label": "Sundry debtors to sales",
   "unit": "pct",
   "data": [
    17.4,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    75.4,
    63.7,
    78.8,
    92.7,
    183.8,
    43,
    111.5,
    82.4
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    8.6,
    7.8,
    10,
    8.7,
    8.8,
    4.7,
    4.8,
    5.9
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    28.7,
    30.1,
    18.2,
    15.1,
    16.1,
    26.2,
    25.4,
    28.2
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    9.4,
    9.3,
    8.1,
    8.7,
    9.5,
    4.9,
    4.9,
    6.3
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    null,
    13.1,
    7.9,
    4.8,
    6.2,
    9.1,
    8.6,
    8.8
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    null,
    3,
    5.9,
    4.9,
    5.4,
    1,
    1.7,
    2
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    31.5,
    31.8,
    23.9,
    24.7,
    26.3,
    23.5,
    24.3,
    28.1
   ]
  },
  "raw_materials_consumed_to_value_of_production": {
   "label": "Raw materials consumed to value of production",
   "unit": "pct",
   "data": [
    56.8,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to total external sources",
   "unit": "pct",
   "data": [
    14.1,
    21.1,
    28.5,
    3.6,
    25.2,
    28.3,
    22.1,
    0
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    8,
    7.1,
    7.8,
    6.6,
    7.8,
    4.3,
    4.8,
    5.8
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    null,
    54.6,
    58.4,
    53.6,
    57,
    55.9,
    60.7,
    67.4
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    67,
    42.8,
    33.1,
    22.4,
    31.2,
    35.3,
    35.9,
    34.4
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.3,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4
   ]
  },
  "sundry_creditors_to_net_working_capital": {
   "label": "Sundry creditors to net working capital",
   "unit": "pct",
   "data": [
    119.3,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    10.2,
    6.3,
    10.5,
    8.7,
    12.8,
    2.7,
    4.7,
    5.3
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    80.8,
    89.3,
    92.4,
    94.1,
    92.8,
    91.6,
    96.5,
    89.5
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    2.4,
    1.3,
    1,
    0.9,
    1.3,
    0.9,
    0.39,
    1.1
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    null,
    17,
    17.5,
    16.7,
    17.3,
    17.9,
    17.4,
    16.7
   ]
  }
 }
}